The company said it made USD380.95 million net profit during the second quarter, down from a year earlier.

Net profit during the first six months of 2013 also fell 30 percent to USD794 million compared to USD1.3 billion a year ago.

The decrease in net profit for the first half was attributed to the booking of one-time, non-recurring and non-cash charge of USD294.3 million resulting from fair valuation of its investments in Asia (Aircel and Axis) and unrealized FX losses of USD160.22 million.

STC also said that impacting the results was also the disposal of fixed assets with a net book value of USD7385 million during the first quarter.

(MENAFN - DailyFX) Gold slumped on Wednesday as its pricing currency the USD gained on the back of the December FOMCdecision. The removal of the 'considerable time' phrase from the policy statement, ...

(MENAFN - Emirates News Agency (WAM)) Etihad Airways, the national airline of the United Arab Emirates, joined celebrations at Abu Dhabi International Airport yesterday to welcome the arrival of its ...

(MENAFN - Emirates News Agency (WAM)) Dubai Land Department, DLD, has signed a sponsorship agreement with the Princess Haya Award for Special Education, PHASE, to host its fifth cycle due to be held ...

(MENAFN - Emirates News Agency (WAM)) The Federal Customs Authority yesterday launched a customs statistics service on its website and a smart phone application to respond to customers' enquiries on ...

(MENAFN - Emirates News Agency (WAM)) The UAE is dedicated to fulfilling the financial gap in the health sector of the Syrian refugee population in order to meet their basic humanitarian and health ...